M&A Deal Summary

Renovo Capital Acquires Global HR

On April 4, 2017, private equity firm Renovo Capital acquired business services company Global HR from Carrier & Technology Solutions for 30M USD

Acquisition Highlights
  • This is Renovo Capital’s 1st transaction in the Business Services sector.
  • This is Renovo Capital’s largest (disclosed) transaction.
  • This is Renovo Capital’s 10th transaction in the United States.
  • This is Renovo Capital’s 1st transaction in Florida.
Investment Fate
  • Global HR was sold to a strategic buyer in 2022.

M&A Deal Summary
Date 2017-04-04
Target Global HR
Sector Business Services
Buyer(s) Renovo Capital
Sellers(s) Carrier & Technology Solutions
Deal Type Divestiture
Deal Value 30M USD

Target

Global HR

Fort Myers, Florida, United States
website
Global HR provides a comprehensive suite of employee testing, screening, and compliance management solutions to a diverse set of end markets. GHRR, which manages complex needs throughout the employee lifecycle, differentiates itself through best-in-class service levels, expertise within healthcare and other specialized industries, an intuitive technology platform and user interface, and the strength of its integration into customer platforms. Global HR was founded in 2005 and is headquartered in Fort Myers, Florida.

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Buyer(S) 1

Buyer

Renovo Capital

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2009
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Renovo Capital is a private equity firm focused on partnering with business owners, entrepreneurs and management teams to invest in businesses undergoing varying degrees of operational, financial or market-driven change. Renovo Capital will consider opportunities throughout North America and looks to commit $10 to $50 million per transaction. Sectors of interest include niche manufacturing, business services, energy services, technology, and e-commerce. Renovo Capital was formed in 2009 and is based in Dallas, Texas.

DEAL STATS #
Overall 10 of 13
Sector (Business Services) 1 of 1
Type (Divestiture) 2 of 3
State (Florida) 1 of 1
Country (United States) 10 of 12
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-15 Andronico s Community Markets

San Francisco, California, United States

Andronico's Community Markets LLC operates 5 grocery stores providing specialty foods in the San Francisco Bay Area. Andronico's offers a wide variety of organic foods and specialty items that cannot be found at conventional supermarkets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-12 Rochester Gauges

Dallas, Texas, United States

Rochester Gauges, Inc. is a manufacturer of gauges and sensors that measure liquid levels of various fuels, including propane, gasoline and diesel for various applications, such as residential and commercial propane tanks, forklifts, RV’s, lawn and garden equipment, tractors and personal aircraft. Rochester has manufacturing facilities in Dallas, Texas; Mexico City, Mexico; Brussels, Belgium with a sales office in Shanghai, China.

Buy -

Seller(S) 1

SELLER

Carrier & Technology Solutions

Fort Lauderdale, Florida, United States

website

Category Company
Founded 2003
Sector Business Services
Employees1,145
Revenue 210M USD (2015)
DESCRIPTION

Carrier & Technology Solutions (CTS) is a national provider of comprehensive technology and outsourcing solutions that help insurance companies and employers mitigate risk, comply with complex regulations and save time and money. CTS provides general agency services, technology outsourcing, software solutions, specialty underwriting and policyholder services, claims administration services, and self-funded health plans to its insurance carrier clients, employers and other clients. CTS is headquartered in Fort Lauderdale, Florida.

DEAL STATS #
Overall 1 of 1
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-28 Mid Atlantic Insurance Services

Richmond, Virginia, United States

Mid Atlantic Insurance Services is a wholesale brokerage firm and program administrator offering a full array of commercial property and casualty insurance lines.

Buy -
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